This compound is primarily utilized in the field of medicinal chemistry, particularly in the development of pharmaceuticals targeting neurological and psychiatric disorders. It acts as a key intermediate or active ingredient in the synthesis of drugs that modulate neurotransmitter systems, such as serotonin and dopamine receptors. Its structural properties make it suitable for designing compounds that can cross the blood-brain barrier, enabling therapeutic effects on conditions like depression, anxiety, and schizophrenia. Additionally, it is explored for its potential in treating neurodegenerative diseases by influencing pathways involved in neuronal protection and repair. Researchers also investigate its role in creating novel analgesics for pain management, leveraging its interaction with central nervous system receptors.